Pension cover in Kenya hits 20pc
Pension coverage among employed Kenyans has hit 20 per cent in the year to June 2017, going up from 16.7 per cent in 2015 on the back of recruitment of more Kenyan workers to retirement savings plans.
Data from the Retirement Benefits Authority (RBA) shows that over 3.2 million Kenyans were covered under pension plans by June 2017, up from the 2.82 million Kenyan covered a year earlier.
RBA chief executive Nzomo Mutuku attributed the growth of coverage to increased financial literacy by workers on the need to save for their retirement.
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